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    Macroeconomic Modelling
    Macroeconomic Modelling
    Macroeconomic Modelling
    Ebook390 pages5 hours

    Macroeconomic Modelling

    By S.G. Hall and S.G.B. Henry

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    About this ebook

    This book arose out of research carried out by the authors in the period 1983-1987 whilst at the National Institute of Economic and Social Research. A number of things combined to impart the basic thrust of the research: partly the developments in formulating and estimating rational expectations models, and partly actual developments in the UK economy itself.

    An application of recent developments in dynamic modelling to a complete macroeconometric model of the UK is presented. Rational expectations modelling, co-integration and disequilibrium modelling are covered. The book also develops computational procedures for obtaining efficient solutions to large-scale models, and illustrates model solutions assuming rational expectations and stochastic simulations. Finally, sections on the analysis of models using optimal control methods illustrate applications of a large-scale econometric model. This section also discusses policy applications, including the derivation of time-consistent policies in the presence of rational expectations, giving quantified illustrations.

    LanguageEnglish
    PublisherElsevier Science
    Release dateJun 28, 2014
    ISBN9781483295473
    Macroeconomic Modelling

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